Unique Creations holds a monopoly position in the production and sale of magnometers. The cost function facing Unique is estimated to be

TC$=$$$100,000+20$Q

What is the marginal cost $($MC$)$ for Unique?

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If the price elasticity of demand for Unique is currently $1\mathrm{.}5,$ what price should Unique charge?

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What is the marginal revenue $($MR$)$ at the price computed?

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If a competitor develops a substitute for the magnometer and the price elasticity increases to $2\mathrm{.}25,$ what price should Unique charge?

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